An ACIL Allen report to the Australian Governmentlists the technical lifetime of each power station, and shows that two-thirds of Australia’s fossil fuel generation capacity will reach the end of its technical lifetime over the next two decades. The practical choices for replacing these plants are fossil fuels (coal and gas) or existing large-scale renewables (wind and PV). Renewables are already economically competitive, and will be clearly cheaper by 2030…Well-integrated adoption of these technology changes will help reduce electricity prices further.
So wind, PV and PHES together yield reliability and affordability to match the current electricity system. In addition, they facilitate deep cuts to emissions at low cost that can go far beyond Australia’s existing climate target.
Note – extensive comments, at TheConversation, debates particular proposal, with detailed modelling, along with many alternatives